GBPUSD - 90% BEARISH
Prior to my last GBPUSD analysis on Sept 8 2023
Where I proclaimed the crash of London's papers, lol! Which was to happen if GBPUSD keeps printing bearish momentum despite and after hitting a Major Descending Trendline for the THIRD TIME and also when all technical tools i.e. key levels (S&R), Fibonacci & order blocks are supporting (or in confluence with) the overall flow of the river (trend), And currently? everything has been flowing south!!!! As predicted by the Cruisers!
London's Papers A.K.A GBPUSD has gone forth to break its ascending trendline as well, after performing a manipulation of Q1 before initiating a crash, and from the looks of current price action, a well known reversal pattern is taking shape i.e. a Double Top. we're still chilling in its early stage though. But the next anticipated drop from GBPUSD down to level 1.21512 (blue bar region) would instantly give this pattern recognition & attention.
(Observe the image above whilst reading through each paragraph)
Now, after that move would be a 50-50 scenario. If GBPUSD fails to sustain the bearish momentum, which I wouldn't be surprised because that region is close to a blue bar (Major Zone) and arguably the most reversible and indecisive place of the market!
Zones are turning points of the market, where price tends to reverse repeatedly!
If GBPUSD fails? simple, we ascend once more or worst case scenarios we initiate ranging market conditions!! This anticipated Double Top would be violated and invalid if price then decides to print more bullish candlesticks and aim at breaking the last high of the immediate trend.
But, If Cable (GBPUSD) then decides to continue the bearish momentum? well not that simple but we'll need a REAL and serious confirmation from all technical tools out there including price itself! A break of the blue bar, finesse the green line (that's a demand) then act on whatever formation then but all should be done whilst still respecting the bearish pressure of OLD (Mon 05 Nov '07) .
The OVR take profit for this Double Top is 1.13318 i.e. a 700 pip drop, whilst from current price region is roughly 1.1k plus pip drop! If GBPUSD keeps breathing bearish? I expect a break of the zone (1.05000 region) then we hit parity level i.e. 1.00000.
Parity is the quality or state of being equal or equivalent. In this case? I'm predicting the value of Great British Pound to be equivalent to the United States Dollar before any major shift in trend!
@alexraphael00 Founder - 𝗫𝗘𝗟𝗔 𝗨𝗡𝗜𝗩𝗘𝗥𝗦𝗜𝗧𝗬 ○ 𝗙𝗢𝗥𝗘𝗫 𝗖𝗥𝗨𝗜𝗦𝗘𝗥𝗦
Where I proclaimed the crash of London's papers, lol! Which was to happen if GBPUSD keeps printing bearish momentum despite and after hitting a Major Descending Trendline for the THIRD TIME and also when all technical tools i.e. key levels (S&R), Fibonacci & order blocks are supporting (or in confluence with) the overall flow of the river (trend), And currently? everything has been flowing south!!!! As predicted by the Cruisers!
London's Papers A.K.A GBPUSD has gone forth to break its ascending trendline as well, after performing a manipulation of Q1 before initiating a crash, and from the looks of current price action, a well known reversal pattern is taking shape i.e. a Double Top. we're still chilling in its early stage though. But the next anticipated drop from GBPUSD down to level 1.21512 (blue bar region) would instantly give this pattern recognition & attention.
(Observe the image above whilst reading through each paragraph)
Now, after that move would be a 50-50 scenario. If GBPUSD fails to sustain the bearish momentum, which I wouldn't be surprised because that region is close to a blue bar (Major Zone) and arguably the most reversible and indecisive place of the market!
Zones are turning points of the market, where price tends to reverse repeatedly!
If GBPUSD fails? simple, we ascend once more or worst case scenarios we initiate ranging market conditions!! This anticipated Double Top would be violated and invalid if price then decides to print more bullish candlesticks and aim at breaking the last high of the immediate trend.
But, If Cable (GBPUSD) then decides to continue the bearish momentum? well not that simple but we'll need a REAL and serious confirmation from all technical tools out there including price itself! A break of the blue bar, finesse the green line (that's a demand) then act on whatever formation then but all should be done whilst still respecting the bearish pressure of OLD (Mon 05 Nov '07) .
The OVR take profit for this Double Top is 1.13318 i.e. a 700 pip drop, whilst from current price region is roughly 1.1k plus pip drop! If GBPUSD keeps breathing bearish? I expect a break of the zone (1.05000 region) then we hit parity level i.e. 1.00000.
Parity is the quality or state of being equal or equivalent. In this case? I'm predicting the value of Great British Pound to be equivalent to the United States Dollar before any major shift in trend!
@alexraphael00 Founder - 𝗫𝗘𝗟𝗔 𝗨𝗡𝗜𝗩𝗘𝗥𝗦𝗜𝗧𝗬 ○ 𝗙𝗢𝗥𝗘𝗫 𝗖𝗥𝗨𝗜𝗦𝗘𝗥𝗦
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